EUR/JPY basic analysis for February 28, 2017 888011000 110888 EUR/JPY has actually recently declined from the resistance 119.40 and the rate is presently in bearish predisposition. Today EUR had some economic occasions, such as French Consumer Costs which is forecasted to be 0.6 and it was unchanged after published along with French Prelim GDP was also the same with the forecast at 0.4%. French prelim CPI had some unfavorable report at 0.1% which was anticipated to be 0.4% and Italian Prelim CPI was favorable at 0.3% which was forecasted to be 0.1%. On the other hand, JPY had Prelim Industrial Production report which was anticipated to be 0.4% but released at -0.8% and Retail Sales report was forecasted at 0.9%, released at 1.0%. Despite the negative news of JPY commercial production EUR was not able to provide pressure on JPY. Daily close today will decide the further relocations in this pair.Now let uslook at the technical view, the cost has rejected from the 119.40 resistance and some bearish pressure is observed in this pair. As of current bullish pressure it is not a great time for offering in this pressure however if the cost clears the nearby assistance level 118.20 then it is anticipated that the bearish predisposition will continue, till then the cost is anticipated to fluctuate in between the location of 118.20-119.40. The product has been supplied by InstaForex Company -www.instaforex.com

By | February 28, 2017

EUR/JPY has recently rejected from the resistance 119.40 and the cost is presently in bearish bias. Today EUR had some economic occasions, such as French Customer Spending which is anticipated to be 0.6 and it was unchanged after released in addition to French Prelim GDP was likewise unchanged with the forecast at 0.4%. French prelim CPI had some negative report at 0.1% which was anticipated to be 0.4% and Italian Prelim CPI was favorable at 0.3% which was anticipated to be 0.1%. On the other hand, JPY had Prelim Industrial Production report which was anticipated to be 0.4% but published at -0.8% and Retail Sales report was anticipated at 0.9%, released at 1.0%. Despite the unfavorable news of JPY industrial production EUR was unable to supply pressure on JPY. Daily close today will decide the additional relocations in this pair.Now let us

look at the technical view, the price has actually rejected from the 119.40 resistance and some bearish pressure is observed in this set. Since recent bullish pressure it is not a great time for offering in this pressure but if the price clears the nearest support level 118.20 then it is expected that the bearish bias will continue, till then the price is expected to change between the area of 118.20-119.40.

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The material has actually been provided by InstaForex Company – www.instaforex.com

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